Auto Finance

Autotrader Names 10 Best Non-Luxury and Luxury CPO Programs

May 23, 2018
• by Staff

ATLANTA — Autotrader this week released its lists of the “10 Best Non-Luxury CPO Programs” and “10 Best Luxury CPO Programs” for 2018. According to the vehicle research site, the lists represent the standout vehicles car shoppers should consider.

Shoppers interested in buying a new car may discover their top picks are outside their budget. Purchasing a used car may be an option, but the vehicle’s reliability and potentially high maintenance costs could be a concern. As a good compromise, the vehicle-shopping site noted, is a certified pre-owned (CPO) vehicle, a lightly used model with a manufacturer-backed warranty, as well as other perks, including a big discount, a thorough mechanical inspection, and complimentary roadside assistance. But some programs, Autotrader noted, are simply better than others.

“Beyond being budget-friendly, buying a certified vehicle provides an extra level of comfort, knowing your car has been through a rigorous inspection and is backed by the manufacturer for an extended length of time. Sometimes, that warranty is longer than you get with a new car and is certainly better than with a non-certified used car,” said Brian Moody, executive editor for Autotrader. “If you’re shopping for a mainstream vehicle, look at Hyundai. It has one of the best warranties in the entire automotive industry, while Lexus is the top pick on the luxury side with perks like an unlimited mileage warranty and pricing that is perfect for real luxury on a budget.”

Hyundai is the overall winner in the non-luxury CPO category. Not only does its factory warranty extend back to its original five years of 60,000 miles for “bumper-to-bumper” coverage, and 10 years or 100,000 miles of powertrain coverage, which is better than a new-car purchase, the coverage is fully transferable to subsequent owners.

The overall winner on the luxury side is Lexus, which offers six years of “bumper-to-bumper” coverage from the original sales date and no mileage limit. Lexus also offers free maintenance for the next four years (two years or 20,000 miles) and a loaner car program.

The 10 Best Non-Luxury CPO Programs are:

Hyundai

Chevrolet

Ford

GMC

Honda

Kia

Mazda

Nissan

Subaru

Toyota

The 10 Best Luxury CPO Programs are:

Lexus

Acura

Audi

Cadillac

Infiniti

Jaguar

Land Rover

Lincoln

Porsche

Volvo

The 2018 lists were identified based on a series of factors, according to Autotrader, including powertrain warranty length (with a minimum of six years or 100,000 miles of coverage from the original sale date), available inventory, “bumper-to-bumper” warranty coverage, deductible amount, and transferability to future owners.

FICO’s second annual survey of auto finance customers finds the United States and Canada atop the dealer-arranged financing rankings even as the number of auto loans originated online jumped from 5% to 13% year-over-year.

Featured Jobs

Speakers at the American Financial Services Association’s 2019 conference brushed off any suggestion of a recession striking the U.S. economy this year but admitted affordability, rampant fraud, and new regulatory concerns could create headwinds.